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FINANCE

  • Big Lots has big quarter

    Big Lots provided an upbeat outlook and posted a strong first quarter, beating profit expectations.    The chain reported income of $51.5 million, or $1.15 per diluted share, for the quarter ended April 29, 2017, which easily beat Wall Street expectations. This compares to $38.7 million, or 79 cents a share, in the year-ago period.  

  • Blowout quarter for Costco

    Costco Wholesale Corp. came roaring back in its third quarter as it topped analysts' earnings and sales expectations amid strong U.S. sales.   

  • Retailers applaud reports regarding swipe fee reform

    The retail industry's two major organizations are applauding reports that the House will drop efforts to repeal debit card swipe reform.   

  • Consumer electronics giant starts the year strong; to roll out home service

    Demand for gaming and mobile products boosted Best Buy’s first-quarter comparable sales, as the retailer beat the Street on profit and sales.   Best Buy revenues rose 1% to $8.53 billion for the period ended April 29, 2017, beating analysts’ estimates of $8.28 billion, from $8.44 billion in the year-ago period. Net income fell to $188 million, or 60 cents a share, easily beating the Street and down from $229 million, or 70 cents per share a year earlier when it benefitted from some settlement proceeds.   

  • Jewelry giant to outsource credit portfolio

    Amid slumping first quarter sales, Signet Jewelers on Thursday announced the first phase of the strategic outsourcing of its in-house credit program, in partnerships with Alliance Data and Progressive Leasing, a subsidiary of Aaron's.  

  • Teen apparel retailer Q1 beats Street as buyout talks heat up

    A strong performance by Hollister helped Abercrombie & Fitch Co. beat first quarter sales and earnings expectations even as its namesake brand continues to struggle.    The teen apparel retailer's better than expected quarterly showing comes as speculation about its future heats up. Abercrombie previously confirmed it is in preliminary discussions with several parties regarding a sale of the company. 

  • Sears Q1 sales fall 20% but posts first quarterly profit in two years amid cuts

    There was a glimmer of good news in Sears Holdings Corp.'s first quarter earnings report.    

  • Report: Walmart gaining big share in grocery

    Walmart is on fire in grocery and capturing a bigger share from traditional supermarkets.   That's according to Loop Capital analyst Andrew Wolf, who estimates Walmart currently has a 21.5% market share in the U.S. traditional grocery market, reported CNBC.   "Wal-Mart is taking back share from the traditional supermarket at an accelerating rate," Wolf said.  
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